The project, dubbed 'Osagrove Flats', will be located in La Salle County and with 34 wind turbines will become the company's fifth park in the state of Illinois.
Avangrid, the US subsidiary of Iberdrola, will build a new wind farm with a total capacity of 153 megawatts (MW) in Illinois (United States), the company reported.
The project, dubbed 'Osagrove Flats', will be located in La Salle County and with 34 wind turbines will become the company's fifth park in the state of Illinois.
This wind farm will produce more than 550,000 megawatt hours (MWh) of electricity in one year, which is equivalent to the power used by about 50,000 American homes.
Avangrid CEO Pedro Azagra highlighted that the group has "a long history of successful partnership with Illinois' communities to build and operate wind farms, helping to accelerate a transition to clean energy in the state and across the country." .
Construction at 'Osagrove Flats' is expected to create around 300 jobs. Long-term operations and maintenance will also support several permanent jobs.
Additionally, it is estimated that the wind farm will contribute more than US$40 million in property taxes over the life of the project.
'Osagrove Flats' is located near another wind farms operated by the company in Illinois. When construction is complete, Avangrid's total installed renewable energy capacity in Illinois will rise to nearly 800 MW. With 8.7 gigawatts (GW) of installed renewable capacity, the company is the third largest renewable energy operator in the United States.
OFFER TO CONTROL 100% OF AVANGRID
Last week, Iberdrola announced the launch of an offer to acquire 18.4% of Avangrid, of which it already controls approximately 81.6% of its capital, thereby taking full control of its US subsidiary.
Specifically, Iberdrola offers US$34.25 per share, which represents an approximate premium of 10% compared to the weighted average price of the last 30 days. This represents an investment of US$ 2,486 million to acquire 100% of Avangrid.
The objective of this transaction for the group chaired by Ignacio Sánchez Galán is to increase its exposure to the network business in the United States "at a key moment for Iberdrola, which wants to grow in markets with high credit ratings and in regulated businesses, such as networks".
Headquartered in Connecticut, Avangrid currently has $44 billion in assets and operations in 24 U.S. states.
Through its networking business, it owns and operates eight electric and natural gas companies, serving more than 3.3 million customers in New York and New England.
Regarding the renewable energy business, Avangrid owns and operates a portfolio of renewable energy generation facilities throughout the United States.
